White House advisor says crypto legislation disagreements are converging, accelerating the progress

ME News Report, April 14 (UTC+8), White House Digital Asset Advisor Patrick Witt stated that the previously considered “difficult to resolve” cryptocurrency legislative disagreements have significantly decreased, and the prospects for passing related bills are improving. As Congress reconvenes, key Senate committees are expected to vote on comprehensive crypto legislation, paving the way for subsequent legislative progress. The bill aims to clarify the regulatory responsibilities of the SEC and CFTC and establish a unified rule framework for exchanges and market participants. The current controversy still centers on stablecoin incentive mechanisms. Although the passed stablecoin bill prohibits issuers from paying interest directly to users, there are still disagreements over whether third-party platforms can offer rewards. Overall, policy-making is shifting from “highly uncertain” to “gradually converging,” and the regulatory framework for the crypto industry is expected to enter a substantive advancement stage. (Source: ODaily)